The Daniel B. Green House, an affordable housing community for low-income seniors that broke ground last year in Trevose, was recently honored by the Philadelphia Business Journal as one of the 30 Best Real Estate Deals in Greater Philadelphia in 2024.
Furthermore, the project earned third place in the Affordable Housing category.
Set to welcome residents this summer, the 60-unit community developed by Federation Housing, a nonprofit that provides much-needed affordable housing for low- and moderate-income seniors, is named in honor of the local philanthropist and late Chairman of Firstrust Bank. Green, whose father, Samuel A. Green founded Firstrust Bank around his mother’s kitchen table in South Philadelphia at the height of the Great Depression, was one of the original board members of Federation Housing.
“My father’s lifelong commitment to community service has left an enduring mark,” said Richard J. Green, Daniel B. Green’s son and the Executive Chairman and Owner of Firstrust Bank, as well as a board member of Federation Housing. “He was dedicated to Federation Housing and its mission, and I know he would feel honored to be the namesake of this new community that will provide much-needed affordable housing for seniors.”
The Daniel B. Green House shares property space with the Florence E. Green House, an existing senior living community owned and operated by Federation Housing for more than a decade.
“Having recognition of my parents’ legacies side-by-side with the Florence E. Green House and the Daniel B. Green House in Trevose is something I will forever cherish,” said Green. “I’m excited to see their lasting impact on the community.”
In Bucks County, existing options for affordable housing are lagging. According to the 2023 Bucks County Housing Needs Snapshot report from Housing Alliance of Pennsylvania, “there is a critical shortage of affordable homes in Bucks County,” and “for every 100 extremely low-income individuals in Bucks County, only 31 affordable rental homes are available to them.”
Bucks is also in a five-way tie for the state’s highest housing wage at $33.40 an hour. For those looking to own, the average Bucks home price is more than double Pennsylvania’s median home value.
“At Firstrust Bank, we recognize the urgent need for affordable housing solutions, especially in our Greater Philadelphia communities,” said Tim Abell, CEO and President of Firstrust Bank. “The Daniel B. Green House will help to fill a critical gap in housing availability for seniors in Bucks County. It is a privilege to provide the financing for its development, which will make a difference for the community and honor the memory of Firstrust’s former leader.”
In the early 1930s, Samuel A. Green’s vision was to create a financial institution that would help families achieve the American dream — particularly by enabling homeownership. Nearly a century later, Firstrust Bank remains a private, family-owned bank that stays true to its founding principles of supporting local businesses, families, and communities.
Learn more about Firstrust Bank and its legacy as a family-owned bank that has grown with its community, fostering trust and stability through generations.
